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INMOBI’s re-marketing platform Miip is driving 7% of the sales of leading e-commerce giants.

INMOBI's re-marketing

Mobile advertising and discovery platform INMOBI has said an average of 7% of the sales of leading e-commerce firms in India is today being driven by its product disco-very and re-marketing platform Miip.On average, consumers buy products worth Rs 1,500-Rs 2,500 through the platform, translating to an average return of $8-$10 worth of transactions for every dollar spent by an advertiser, InMobi said in a statement. For every dollar that Myntra spends on the platform, it gets $7 in return. “That’s an excellent return on ad spend because the standard expectation is… $3.5 in return,” said Naveen Tewari (CEO of inmobi) in a statement.

Myntra CEO Ananth Narayanan described Miip as an “ingenious platform which can grow mobile-commerce rapidly in India.” Between February, when Myntra adopted the Miip platform, and April, the number of transactions on Myntra happening through Miip has increased 300% month-on-month. Total number of transactions a day through Miip has crossed 1,000, and average order value is $25.

Founded by founder Naveen Tewari, the company has 17 offices across the globe. InMobi won a spot in MIT Technology Review’s 50 most disruptive companies of 2013.InMobi had received $220.6 Million via Angel, Series A, Series B, and Series C funding. In September 2011, it received a $200 million funding from Softbank which would come in two Tranches – one of $100 million in September 2011 and the other $100 million in April 2012.In 2014, it secured an additional $5 Mn in funding from its existing investor Softbank. Softbank has further committed additional $25 Mn in InMobi if new investors come on board

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